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By Caitlin Ostroff U.S. stock futures edged higher Thursday, suggesting that the Dow Jones Industrial Average may end the holiday-shortened week on a flat note. Futures tied to the Dow ticked up 0.1%. The blue-chips index slipped almost 0.2% this week through the Wednesday close. Contracts linked to the S&P 500 and the technology focused Nasdaq-100 index also edged 0.1% higher. Markets will close early Christmas Eve, with the New York Stock Exchange and Nasdaq scheduled to end trading at 1 p.m. ET. U.S. and European markets will be closed Friday. Investors have been focused on a swath of issues this week, including the prospects for additional fiscal support for the economy and signs of the rebound faltering. Elevated coronavirus infection levels and a new variant of Covid-19 that emerged in the U.K. have prompted concerns that there may be additional lockdown measures in the winter months, weighing on market sent
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By Caitlin Ostroff and Paul Vigna U.S. stocks were little changed Thursday in light holiday trading as investors tracked the latest developments on a new coronavirus aid package and the historic trade deal reached between the U.K. and European Union. The Dow Jones Industrial Average ticked up 9 points, or less than 0.1%. The S&P 500 rose 0.1%, and the Nasdaq Composite added 0.1%. The blue-chip index is down 0.1% for the week, while the S&P 500 is poised for a 0.4% loss and the Nasdaq is up 0.2%. The stock market closes at 1 p.m. ET on Christmas Eve, and U.S. and European markets will be closed Friday.
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By Caitlin Ostroff and Paul Vigna U.S. stocks were little changed Thursday in light holiday trading as investors tracked the latest developments on a new coronavirus aid package and the historic trade deal reached between the U.K. and European Union. The Dow Jones Industrial Average ticked up 0.2%. The S&P 500 rose 0.4% and the Nasdaq Composite added 0.3%. The stock market closed at 1 p.m. ET on Christmas Eve, and U.S. and European markets will be closed Friday. Congressional Republicans on Friday blocked an effort by Democrats to increase the stimulus checks in the coronavirus aid package to $2,000, a demand made by President Trump earlier this week. Along with Mr. Trump s veto of a spending bill, the moves threw Washington into chaos and raised the possibility of a government shutdown next week.
The U.S. House of Representatives blocked President Donald Trump’s bid to change the terms of the coronavirus relief package and government spending package after he insisted on a $2,000 direct payments to Americans, compared to the current $600, Reuters reports. The spending bill will make another round through Congress for a majority vote to override the President’s veto on Monday.
“If (stimulus) doesn’t get passed in some form or another it could mean severe consequences for the unemployed,” Peter Cardillo, chief market economist at Spartan Capital Securities, told Reuters.
Garrett Melson, a strategist at Natixis Investment Managers, argued that the market’s reaction to the latest political strife is only short-term noise and investors are looking at the long-term picture.